'We believe that USD/JPY might be set for a move higher soon' - Citi

CitiGroup Technicals believe that USDJPY will move higher soon for breaking 125.85 resistance level:

1. "We are back above the inverted head and shoulder neckline/prior range top on USDJPY (124.49 and 124.58. respectively), which opens the way for towards the June high (125.85)."
   
2. "Further confirmation comes with a break above 75bps on the US 2 year yield."

As we see from the image above - the very strong resistance level at 125.85 is very likely to be broken by USDJPY, and it is based on fundamental news events which we should watch during this week for example.